| From: Savant | 10/25/2022 9:46:51 AM | | | | | | LRAD Systems Humanely Deterring Birds and Wildlife from Hazardous Water and Waste Areas
**fwiw, I recommended this use to the co. years ago
SAN DIEGO, Oct. 25, 2022 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in unified critical communications systems and solutions, announced today follow-on LRAD systems orders totaling $840,000 for bird and wildlife preservation. The LRAD systems will be integrated with avian radar from DeTect , Inc. and used to humanely deter waterfowl from landing on hazardous tailing ponds or entering waste areas of large mining operations in northern Canada.
"LRAD systems safeguard against habituation and preserve wildlife by broadcasting a near infinite variety of audible predator calls and warning tones with focused acoustic output." said Richard. Danforth, Chief Executive Officer, Genasys Inc. "LRAD’s advanced driver and waveguide technology ensures tones and predator calls are clearly delivered above wind and background noise. The ineffectiveness of cracker shells, propane cannons, and other repetitive sound deterrents, highlight the need for our safer, more effective wildlife protection solutions."
Mr. Danforth continued. “Airports, air bases, oil & gas facilities, and fisheries around the world are also using LRAD systems to preserve wildlife and protect critical assets.”
Unlike other wildlife deterrent systems that disperse sound in all directions, LRAD’s proprietary audio technology focuses sound in a 30° beam, while substantially reducing sound levels behind the systems and in surrounding areas. Rugged, reliable, and built to withstand harsh environments, LRAD systems broadcast warning tones and predator calls from close range to 3,000 meters. |
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| From: Savant | 11/2/2022 9:29:07 AM | | | | | | Genasys to Power Public Safety Alerts for California's Second Most Populous County
SAN DIEGO, Nov. 02, 2022 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in unified critical communications systems and solutions that help keep people safe, today announced that San Diego County, California has entered into a five-year contract with the Company for Genasys Emergency Management (GEM) software services. GEM is replacing San Diego County's previous regional notification system.
"This is the second county in Southern California to select GEM for emergency management and critical notification services," said Richard Danforth, Chief Executive Officer, Genasys Inc. "Between San Diego County and the previously announced Riverside County contract, GEM will cover more than 5.8 million residents, 2 million housing units, and 130,000 businesses."
Mr. Danforth added, "With this award, emergency management agencies, first responders, and more than 15 million Californians statewide will have access to Genasys' unified critical communications solutions to help prepare for and protect against wildfires, flooding, debris flows, tsunamis, earthquakes, and other life safety hazards. Additional Genasys software and hardware systems contracts from California jurisdictions are expected this year."
GEM delivers targeted emergency alerts, public safety warnings and information to people at risk before, during, and after crisis situations. By adding a powerful and intuitive orchestration and management layer on top of existing physical and digital infrastructure, GEM extends the clarity, reach and range of critical communications. |
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| From: Savant | 12/1/2022 11:15:19 AM | | | | | | Genasys Inc. Reports Fiscal Fourth Quarter and Full Year 2022 Financial Results
Annual Revenue Up 15% to $54.0 Million
SaaS Platform Gaining Momentum on Strategic Investments
SAN DIEGO, Nov. 30, 2022 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help keep people safe, today announced financial results for the Company's fiscal fourth quarter and full year ended September 30, 2022.
Richard S. Danforth, Chief Executive Officer of Genasys Inc., commented, "Fiscal 2022 was an exceptional year. We delivered 15% growth in revenue and a positive Adjusted EBITDA while accelerating our strategic shift towards a higher-margin, recurring revenue model. The investments we are making in software sales and support led to key contract wins, fueled expansion in existing markets, and paved the way for entry into new markets and geographies. Our software-as-a-service (SaaS) products team expanded our unified critical communications platform into 7 countries, 19 states, and 21 California counties.
"We self-funded more than $9.0 million in SaaS platform investments and still generated positive cash from operations for the year," added Mr. Danforth. "These investments are creating a strong economic engine to meet the growing demand for critical communications systems. After repurchasing approximately $1 million in company stock in open market transactions, we ended the year with no debt and $19.9 million in cash, cash equivalents, and marketable securities. The cash generating power of our core business and the strength of our balance sheet continue to provide us with the resources and flexibility to execute our long-term growth strategy."
Business Outlook
Commenting on the outlook for fiscal year 2023, Mr. Danforth stated, "We anticipate continued revenue growth in fiscal 2023. While our hardware business will start from a lower backlog than the previous year, due mainly to international hardware orders anticipated in fiscal 2022 moving into fiscal 2023, the carryover of expected orders, stronger international sales, continuing AHD deliveries to the U.S. Military, and increasing software services sales are expected to augment fiscal 2023 bookings and backlog. Further, we are building a strong base of annual recurring revenue from our software business and anticipate it will represent a larger portion of our revenue in fiscal 2023.
"Last year we discussed a $9 to $11 million increase in expenses to support our SaaS business growth. The increase in fiscal 2022 was $6.4 million, and we anticipate operating expenses to increase by approximately $5.0 million in fiscal 2023, reflecting our continued confidence and excitement in our SaaS business."
Select Fiscal Year 2022 Highlights
-- Accelerated momentum in SaaS sales -- Received multi-year enterprise SaaS contract from a second global automaker -- Landed three new SaaS contracts in the Utility sector -- Significantly increased U.S. counties under contract for Genasys' comprehensive suite of public safety, emergency warning, and evacuation systems -- Captured 10 cross-selling opportunities -- Expanded SaaS coverage in 19 new U.S. states -- Validated SaaS platform and business model -- Integrated Mass Notification System revenue grew 457%
Fourth Quarter and Fiscal Year 2022 Financial Updates
-- Fourth quarter revenue increased by 7% to $16.0 million, and fiscal year 2022 revenue increased by 15% to $54.0 million -- Fiscal fourth quarter bookings were $6.0 million, bringing total bookings for fiscal 2022 to $38.2 million. From these total bookings, we had a backlog of $22.0 million that we expect to deliver in fiscal 2023. -- Results for the three months and 12 months ended September 30, 2022 include a non-cash impairment charge of $13.2 million to reduce the Company's goodwill asset due to sustained declines in major stock market indices since the beginning of the year resulting in a decrease in SaaS market multiples from 15.5 to 5.5 times annual revenue, and a non-cash income tax expense of $1.0 million primarily related to an increase in the valuation allowance against deferred tax assets -- Net loss for the fourth quarter was $13.8 million, and for fiscal year 2022 was $16.2 million, which included the impact of the non-cash impairment charge, the non-cash income tax expense, and investment in our software platform. -- Fourth quarter operating income was $0.4 million and fiscal year 2022 operating loss was $2.4 million, excluding the non-cash impairment charge. -- Adjusted EBITDA was $1.6 million for the fourth quarter, compared with $1.8 million in the prior year period, and $2.4 million for fiscal year 2022, compared with $4.1 million in fiscal 2021.
Fiscal Fourth Quarter 2022 Financial Summary
Fiscal fourth quarter revenue was $16.0 million, an increase of 7% from $15.0 million in the prior year quarter.
Gross profit margin was 47.8%, compared with 51.2% in the fourth quarter of fiscal 2021. The decrease as a percentage of revenue was primarily attributable to the higher component costs in this year's quarter.
Operating expenses were $20.4 million, including a non-cash goodwill impairment of $13.2 million, compared with $7.0 million in the same period a year ago. Selling, general and administrative expenses were essentially unchanged at $5.6 million in the current period. Additionally, research and development expenses increased 13% year-over-year due to continued investment in software products.
Net loss in the quarter was $13.8 million, or $0.38 per share, compared with net income of $0.8 million, or $0.02 per diluted share, in the fourth quarter of fiscal 2021. The fourth quarter of fiscal 2022 included a non-cash goodwill impairment of $13.2 million and non-cash income tax expense of $1.0 million primarily related to an increase in the valuation allowance against deferred tax assets.
Fiscal Year 2022 Financial Summary
Revenue for fiscal 2022 was $54.0 million, an increase of 15% from $47.0 million in fiscal 2021.
Gross profit margin was 48.7%, 110 basis points lower than 49.8% in fiscal 2021. The decrease as a percentage of revenue was primarily attributable to increased costs associated with continued investment in personnel to support the growth of our software revenue and higher component costs in the second half of fiscal year 2022.
Operating expenses were $41.9 million, compared with $22.3 million in the same period a year ago. The increase includes $6.4 million in planned selling, general and administrative and research and development expenses, and the non-cash goodwill impairment expense of $13.2 million.
Net loss for fiscal year 2022 was $16.2 million, or $0.44 per share, compared with net income of $0.7 million, or $0.02 per diluted share, in fiscal 2021. The decrease was due to a non-cash goodwill impairment expense of $13.2 million, non-cash income tax expense of $1.0 million, and planned increases in selling, general and administrative and research and development expenses.
Adjusted EBITDA was $2.4 million for the fiscal year ended September 30, 2022, compared with $4.1 million for the prior fiscal year.
Cash, cash equivalents and marketable securities totaled $19.9 million on September 30, 2022, compared with $20.7 million on September 30, 2021.
In accordance with generally accepted accounting principles, the Company conducted a quantitative test of goodwill assets for impairment due to deterioration in the equity markets evidenced by sustained declines in major stock market indices since the beginning of the year resulting in a decrease in SaaS market multiples from 15.5 to 5.5 times annual revenue. As a result of the impairment analysis, the Company recorded an impairment loss on goodwill of $13.2 million associated with the software reporting unit for the three and 12 months ended September 30, 2022.
We include in this press release Non-GAAP operational metrics of adjusted EBITDA, backlog and bookings, which we believe provide helpful information to investors with respect to evaluating the Company's performance. Adjusted EBITDA represents our net income before other income, net, income tax expense (benefit), depreciation and amortization expense and stock-based compensation. We do not consider these items to be indicative of our core operating performance. The items that are non-cash include depreciation and amortization expense and stock-based compensation. Adjusted EBITDA is a measure used by management to understand and evaluate our core operating performance and trends and to generate future operating plans, make strategic decisions regarding allocation of capital and invest in initiatives that are focused on cultivating new markets for our solutions. In particular, the exclusion of certain expenses in calculating adjusted EBITDA facilitates comparisons of our operating performance on a period-to-period basis. We consider bookings as leading indicators of future revenues and use these metrics to support production planning. Bookings is an internal, operational metric that measures the total dollar value of customer purchase orders executed in a period, regardless of the timing of the related revenue recognition. Backlog is a measure of purchase orders received that are planned to ship within the next 12 months.
Webcast and Conference Call Details
Management will host a conference call to discuss the fiscal year 2022 financial results this afternoon at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time. To access the conference call, dial toll-free (888) 390-3967, or international at (862) 298-0702.
Webcast: webcaster4.com |
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| From: Savant | 12/13/2022 1:39:24 PM | | | | | | Genasys Inc. Announces New Zonehaven and Genasys Emergency Management Contract with Monterey County, CA
16.3 Million Californians Now Covered by Genasys Critical Communications Systems and Evacuation Resources
SAN DIEGO, Dec. 13, 2022 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in unified critical communications systems and solutions that help keep people safe, today announced a multi-year Genasys Emergency Management (GEM) and Zonehaven software-as-a-service (SaaS) contract with Monterey County, California. GEM is displacing a competitor's critical event management system.
"Monterey County's diverse coastline and rugged mountains, which include the steepest coastal slope in the contiguous United States, present formidable emergency management challenges," said Richard Danforth, Chief Executive Officer, Genasys, Inc. "The county's major disasters over the last 50 years include severe coastal storms, flooding, landslides, earthquakes, and several large wildfires.
"To better protect the county's 430,000 residents and more than 3 million annual visitors during disasters and other crisis situations, Monterey County emergency management personnel and first responders are deploying Genasys critical communications software and evacuation resources," continued Mr. Danforth. "10 of California's 15 coastal counties have implemented our unified multichannel platform for county emergency management. In two additional coastal counties, San Francisco and Orange, certain cities and tourist areas are covered by Genasys public safety solutions."
Mr. Danforth concluded, "Our strategic shift towards a higher-margin, recurring revenue model continues to gain momentum as evidenced by our rapid SaaS growth in California and expansion into 19 other states. Fiscal 2023 investments in software sales are expected to fuel further expansion in existing markets and propel us into new vertical markets and geographic regions."
GEM extends the clarity, reach and range of critical communications by delivering targeted emergency alerts, public safety warnings and information to people at risk before, during, and after crisis situations.
Zonehaven software services incorporate hyperlocal knowledge to model evolving disasters and the subsequent impact on evacuation zones, traffic patterns, and public safety. Zonehaven resources have been utilized to support real-time evacuation alerts and repopulation notifications across multiple jurisdictions during major wildfires, flooding, debris flows, active shooter incidents, police actions, and other life safety hazards.
About Genasys Inc.
Genasys(R) is a global provider of critical communications systems and solutions. Genasys' unified multichannel platform empowers governments, businesses, and organizations to deliver real-time geo-targeted alerts, notifications, and information before, during, and after p |
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| From: Savant | 1/4/2023 12:07:28 PM | | | | | | Genasys Inc. Secures Emergency Management and Evacuation Software Services Contract from Utah Counties
Zonehaven Used in Multiple California Counties to Communicate Flooding and Debris Flow Hazards
SAN DIEGO, Jan. 04, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help protect and keep people safe, today announced a Genasys Emergency Management (GEM) and Zonehaven software-as-a-service (SaaS) contract from three contiguous Utah counties. Genasys replaced competitors' emergency notification systems.
"Eastern Utah counties Daggett, Duchesne and Uintah join 39 counties in five Western states employing Genasys public safety software services under multi-year contracts to better protect their residents during disasters and critical events," said Richard Danforth, Chief Executive Officer, Genasys Inc. "A national monument, a large dam in a national recreation area, and extensive oil and natural gas production facilities are located in these Utah counties. Emergency management officials will use GEM and Zonehaven to alert and evacuate people endangered by wildfires, flooding, oil and natural gas incidents, and other life safety hazards."
In California, Genasys' Zonehaven has been used the last two weeks by eight northern counties to communicate the location and extent of multiple flooding and debris flow incidents created by atmospheric river conditions. These incidents were exacerbated in areas where recent wildfires burned.
Charlie Crocker, Sr. Vice President of SaaS Products, Genasys Inc. said, "Evacuation advisories, warnings, and orders were mainly focused in areas burned by the Bobcat, Lake and CZU Complex Fires in 2020. County fire, law enforcement, and emergency managers are using GEM and the Zonehaven EVAC platform to identify flood areas and road closures and then communicating this critical information to the public using our AWARE site and several additional communication channels. "
Mr. Danforth added, "Tens of millions of residents in Arizona, California, Colorado, Oregon, and Utah are now covered by our unified public safety platform. Increasingly, U.S. jurisdictions in Genasys' growing business pipeline are becoming customers as they recognize the many advantages of our multi-solution platform and regional approach to emergency management, evacuations, and repopulations."
The Genasys unified public safety platform empowers first responders and emergency management agencies to deliver alerts, notifications and information through voice calls, SMS, email, desktop alerts, social media, IPAWS, and many other communication channels. Genasys life safety solutions help ensure at-risk individuals and populations receive critical communications before, during, and after crisis situations.
About Genasys Inc.
Genasys(R) is a global provider of critical communications systems and solutions that help keep people safe. Genasys' unified multichannel platform empowers governments, businesses, and organizations to deliver real-time, geo-targeted alerts, notifications, and information before, during, and after public safety and enterprise threats.
The Company's unified software-as-a-service and hardware platform includes Genasys Emergency Management (GEM), Zonehaven(R) emergency evacuation resources, National Emergency Warning System (NEWS), Integrated Mass Notification System (IMNS), and LRAD(R) long-range communication systems.
The Genasys critical communications platform is helping to protect millions of people in more than 100 countries. For more information, visit genasys.com.
Forward-Looking Statements |
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| From: Savant | 2/10/2023 9:37:41 AM | | | | | | Genasys Inc. Awarded Contract to Provide Critical Notifications to Aramco
Agreement Signed to Supply Genasys Emergency Management Software
SAN DIEGO, Feb. 09, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help protect and keep people safe, today announced a contract with Aramco for Genasys Emergency Management (GEM) enterprise services. Genasys was awarded the contract by Aramco over other leading mass notification software providers as a result of a competitive bidding process.
Richard Danforth, Chief Executive Officer, Genasys Inc. said, "This award from one of the world's leading companies is a significant win for Genasys and our emergency management Software-as-a-Service (SaaS). Under the contract, Aramco will use GEM to create, manage, and deliver geo-targeted, multichannel notifications to employees if risk is detected."
Peter Ayre, Vice President of Sales (Middle East, Africa and Central Asia), Genasys Inc. commented, "By simultaneously sending critical communications through SMS, voice calls, email, and other channels, our cloud-based SaaS solution will provide Aramco employees many ways to receive real-time alerts during an emergency."
Mr. Danforth added, "Our SaaS team is working with Aramco's technical engineers on implementing GEM company-wide."
GEM is easily integrated with active directories, Human Resources, visitor management, and building control systems to empower enterprise customers to protect workers, traveling employees, contractors, and visitors. By adding a powerful and intuitive orchestration and management layer on top of existing physical and digital infrastructure, GEM extends the clarity, reach and range of critical communications.
About Genasys Inc.
Genasys(R) is a global provider of critical communications systems and solutions that help protect and keep people safe. Genasys' unified multichannel platform empowers governments, businesses, and organizations to deliver real-time geo-targeted alerts, notifications, and information before, during, and after public safety and enterprise threats.
The Company's unified software-as-a-service and hardware platform includes Genasys Emergency Management (GEM), Zonehaven(R) emergency evacuation resources, National Emergency Warning System (NEWS), Integrated Mass Notification System (IMNS), and LRAD(R) long-range communication systems.
The Genasys critical communications platform is helping to protect millions of people in more than 100 countries throughout the world. For more information, visit genasys.com.
Forward-Looking Statements |
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| From: Savant | 2/16/2023 10:01:33 AM | | | | | | Genasys Inc. to Present at Best Ideas Virtual Investor Conference
SAN DIEGO, Feb. 16, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help keep people safe, today announced that Richard Danforth, CEO, and Dennis Klahn, CFO, will present at the Third Annual Winter Wonderland -- Best Ideas Virtual Investor Conference. Qualified institutional investors recommended each of the 37 companies presenting as one of their best ideas.
The Company is scheduled to present virtually Wednesday, February 22, 2023 at 1:00 p.m. ET. Management will also conduct one-on-one meetings throughout the conference.
A webcast of the Company's presentation will be available live and for replay at:
webcaster4.com
To receive additional information, request an invitation, or to schedule a one-on-one meeting, please email angie.wright@issuerdirect.com.
About Genasys Inc.
Genasys(R) is a global provider of critical communications systems and solutions. Genasys' unified multichannel platform empowers governments, businesses, and organizations to deliver real-time geo-targeted alerts, notifications, and information before, during, and after public safety and enterprise threats.
The Company's unified software-as-a-service and hardware platform includes Genasys Emergency Management (GEM), Zonehaven(R) emergency evacuation resources, National Emergency Warning System (NEWS), Integrated Mass Notification System (IMNS), and LRAD(R) long-range communication systems.
The Genasys critical communications platform is helping to protect millions of people in more than 100 countries. For more information, visit genasys.com.
Investor Relations Contact Kimberly Rogers Hayden IR ir@genasys.com |
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| From: Savant | 4/4/2023 1:11:46 PM | | | | | | Genasys to Deliver Emergency Warnings and Public Safety Notifications to Venue Tourists & Visitors During Critical Events
SAN DIEGO, April 04, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in critical communications systems and solutions that help keep people safe, today announced a new Integrated Mass Notification System (IMNS) order for a large outdoor tourist destination.
"Voice broadcast clarity, multiple activation and control options, and the ability of our IMNS installations to blend into the venue’s layout and architecture were key considerations in securing this order," said Richard Danforth, Chief Executive Officer, Genasys Inc. "IMNS is one of the core components of Genasys Protect™, our unified platform that empowers organizations with comprehensive emergency management and multichannel communications solutions that help safeguard people throughout crisis situations."
Chris Roller, Vice President of IMNS Business Development, said, "Siren-based systems are incapable of broadcasting highly intelligible voice messages that describe the nature of the emergency as well as the information needed to prevent panic and keep people safe. With the mass notification industry’s highest Speech Transmission Index, IMNS delivers audible notifications and instructions with exceptional vocal clarity over crowd and background noise."
Mr. Danforth added, "Our proven use cases from targeted verticals that include large entertainment venues, critical infrastructure protection, energy, utilities, and heavy manufacturing are creating greater awareness of our unified protective communications platform and accelerating pipeline growth." |
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| From: Savant | 4/26/2023 9:53:54 AM | | | | | | Genasys Inc. Schedules Fiscal Second Quarter 2023 Financial Results and Conference Call for May 8, 2023
SAN DIEGO, April 24, 2023 (GLOBE NEWSWIRE) -- Genasys Inc. (NASDAQ: GNSS), the global leader in unified critical communications systems and solutions that help keep people safe, today announced plans to release financial results for its fiscal second quarter, ended March 31, 2023, after the market close on Monday, May 8, 2023. A conference call to discuss the fiscal second quarter financial results will be held at 4:30 p.m. Eastern Time / 1:30 p.m. Pacific Time.
Conference call details:
Date: May 8, 2023
Time: 4:30 p.m. Eastern / 1:30 p.m. Pacific
Toll-Free Dial-In Number: (888) 390-3967 (U.S. & Canada)
International Dial-In Number: (862) 298-0702
Webcast: webcaster4.com
Please dial-in 10 minutes prior to the start time and tell the operator you are calling in for the Genasys Fiscal Second Quarter 2023 Financial Results Call. Questions to management may be submitted before the call by emailing them to ir@genasys.com.
A replay of the webcast will be available approximately four hours after the presentation through the Conference Call link on the Events & Presentations page of the Company's website.
About Genasys Inc.
Genasys(R) is a global provider of critical communications systems and solutions. The Genasys Protect(TM) unified platform empowers governments, businesses, and organizations to deliver real-time geo-targeted alerts, notifications, and information before, during, and after public safety and enterprise threats.
The Company's integrated software-as-a-service and hardware platform includes Genasys Emergency Management (GEM), Zonehaven(R) emergency evacuation resources, National Emergency Warning System (NEWS), Integrated Mass Notification System (IMNS), and LRAD(R) long-range communication systems.
Genasys is helping to protect millions of people in more than 100 countries. For more information, visit genasys.com.
Brian Alger, CFA SVP, IR and Corporate Development ir@genasys.com (858) 676-0582 |
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